This Article is from Rueters explaining some of the new regulations coming down the pipeline for Short Sales! Great information about how the process of buying a home in a short sale postion will be much easier going forward. Here is the full article:
By Al Yoon Al Yoon – Mon Nov 30, 6:58 pm ET
NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.
The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury's website.
Guidelines address barriers that have often sidelined short sales by setting limits on the time it takes a bank to approve an offer, freeing borrowers from debt and capping claims of subordinate lenders.
The incentives, first announced in May, expand on the government's Home Affordable Modification Program, known as HAMP, that has seen limited success in lowering payments for distressed homeowners. The Treasury earlier on Monday stepped up pressure on mortgage companies to make permanent the 650,000 trial modifications they have started.
"While HAMP program guidelines are intended to reach a broad range of at-risk borrowers, it is expected that servicers will encounter situations where they are unable to approve" or offer a modification, the Treasury said in its announcement.
Financial incentives for completing short sales or similar deed-in-lieu transactions -- in which the deed is simply transferred to the lender -- include a $1,000 payment to servicers, and a maximum of $1,000 to go to investors who sign off on payments to subordinate lien holders, the Treasury said. Borrowers would receive $1,500 in relocation expenses.
Short sales are favored by real estate agents and community groups over foreclosure because they can preserve the borrower's credit rating and leave the property in better condition than when a homeowner is evicted. While primary lenders typically realize steep losses, their recovery is typically far better than under foreclosure.
But short sales have been frustrating for borrowers and real estate agents, often hung up by negotiations with multiple lien holders and mortgage insurance companies. Real estate agents have complained that sales fall through as lenders bicker over the sales price, what they should receive from the proceeds, and whether the borrower will be held accountable for the debt in the future.
Among requirements, mortgage servicers have 10 days to approve or disapprove a request for short sale, and when done the transaction must fully release the borrower from the debt.
It also prohibits mortgage servicing companies from reducing real estate commissions on the sale, a practice that has dissuaded many agents from taking short sale listings.
In one of the most contentious issues gumming up negotiations between lenders, the guidance caps the aggregate proceeds to subordinate lien holders at $3,000.
Second lien holders in recent months have begun demanding more money from the first lender, seller, buyer or agent in exchange for releasing their claim, agents have said. Because primary lenders would face larger losses in a foreclosure, some subordinate lenders have felt empowered, the agents said.
The largest second-lien holders are Bank of America Corp, Wells Fargo & Co, JPMorgan Chase & Co and Citigroup Inc.
Second lien holders may proceed with a short sale outside of the Treasury program, if they felt the cap was too low, a Treasury official said in October.
"If there was a short sale program that didn't recognize the second lien holder position, it could have pretty damaging consequences for the industry," Sanjiv Das, chief executive officer of CitiMortgage, said in an interview last week.
Wednesday, December 2, 2009
Tuesday, August 25, 2009
DON'T FORGET!!!
FREE FIRST TIME HOME BUYER SEMINAR THIS WEEKEND!
SEATS ARE LIMITED AND FILLING UP FAST! REGISTER TODAY AT WWW.FTHBSEMINAR.COM
SEATS ARE LIMITED AND FILLING UP FAST! REGISTER TODAY AT WWW.FTHBSEMINAR.COM
Friday, July 31, 2009
Shopping Around??
HERE’S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!
First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell?
Here are FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS…RUN…DON’T WALK… RUN…TO A LENDER THAT DOES!
1) What are mortgage interest rates based on? (The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators.)
2) What is the next Economic Report or event that could cause interest rate movement? (A professional lender will have this at their fingertips. For an up-to-date calendar of weekly economic reports and events that may cause rates to fluctuate, visit www.suewoodard.com and hit the green MMG Weekly banner – this is a copy of our weekly newsletter, let us know if you want to be added to my weekly distribution list)
3) When Bernanke and the Fed “change rates”, what does this mean… and what impact does this have on mortgage interest rates? (The answer may surprise you. When the Fed makes a move, they can change a rate called the “Fed Funds Rate” or “Discount Rate”. These are both very short- term rates that impact credit cards, Home Equity credit lines, auto loans and the like. On the day of the Fed move, Mortgage rates most often will actually move in the opposite direction as the Fed change. This is due to the dynamics within the financial markets in response to inflation. For more information and explanation, just give us a call).
4) Do you have access to live, real time, mortgage bond quotes? (If a lender cannot explain how Mortgage Bonds and interest rates are moving in real time and warn you in advance of a costly intra-day price change, you are talking with someone who is still reading yesterday’s newspaper, and probably not a professional with whom to entrust your home mortgage financing. Would you work with a stockbroker who is only able to grab yesterday’s paper to tell you how a stock traded yesterday, but had no idea what the movement looks like at the present time and what market conditions could cause changes in the near future? No way!)
Be smart... Ask questions… Get answers!
More than likely, this is one of the largest and most important financial transactions you will ever make. You might do this only four or five times in your entire life… but we do this every single day. It’s your home and your future. It’s our profession and our passion. We're ready to work for your best interest.
First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell?
Here are FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS…RUN…DON’T WALK… RUN…TO A LENDER THAT DOES!
1) What are mortgage interest rates based on? (The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators.)
2) What is the next Economic Report or event that could cause interest rate movement? (A professional lender will have this at their fingertips. For an up-to-date calendar of weekly economic reports and events that may cause rates to fluctuate, visit www.suewoodard.com and hit the green MMG Weekly banner – this is a copy of our weekly newsletter, let us know if you want to be added to my weekly distribution list)
3) When Bernanke and the Fed “change rates”, what does this mean… and what impact does this have on mortgage interest rates? (The answer may surprise you. When the Fed makes a move, they can change a rate called the “Fed Funds Rate” or “Discount Rate”. These are both very short- term rates that impact credit cards, Home Equity credit lines, auto loans and the like. On the day of the Fed move, Mortgage rates most often will actually move in the opposite direction as the Fed change. This is due to the dynamics within the financial markets in response to inflation. For more information and explanation, just give us a call).
4) Do you have access to live, real time, mortgage bond quotes? (If a lender cannot explain how Mortgage Bonds and interest rates are moving in real time and warn you in advance of a costly intra-day price change, you are talking with someone who is still reading yesterday’s newspaper, and probably not a professional with whom to entrust your home mortgage financing. Would you work with a stockbroker who is only able to grab yesterday’s paper to tell you how a stock traded yesterday, but had no idea what the movement looks like at the present time and what market conditions could cause changes in the near future? No way!)
Be smart... Ask questions… Get answers!
More than likely, this is one of the largest and most important financial transactions you will ever make. You might do this only four or five times in your entire life… but we do this every single day. It’s your home and your future. It’s our profession and our passion. We're ready to work for your best interest.
Tuesday, July 28, 2009
Whats going on with Inflation and Interest Rates?
If you've seen the news lately, you know concerns about inflation are increasing. But what does it really mean to you?
The fact is, inflation is a very serious issue, and it will likely be on the rise as 2009 proceeds...and along with it, home loan rates will rise too.
To help you learn more about this important topic, I want to send you a link to a short video, featuring the nation's foremost mortgage industry expert. In this video, you'll learn how inflation impacts interest rates and what the outlook is for down the road. Because home loan rates will be on the rise, if you or any of your family, friends, neighbors or co-workers have been considering a purchase or refinance, now's the time to act.
Please contact me today to discuss your specific situation, and feel free to forward this email and video link along to others that you think might benefit from it as well. Watch the Video
The fact is, inflation is a very serious issue, and it will likely be on the rise as 2009 proceeds...and along with it, home loan rates will rise too.
To help you learn more about this important topic, I want to send you a link to a short video, featuring the nation's foremost mortgage industry expert. In this video, you'll learn how inflation impacts interest rates and what the outlook is for down the road. Because home loan rates will be on the rise, if you or any of your family, friends, neighbors or co-workers have been considering a purchase or refinance, now's the time to act.
Please contact me today to discuss your specific situation, and feel free to forward this email and video link along to others that you think might benefit from it as well. Watch the Video
Wednesday, July 15, 2009
Government Regulation Clogs the Pipes...
It's no secret that many facets of lending and real estate have changed as a result of the credit crisis. In addition to tightened lending practices that resulted from rising mortgage delinquencies, Washington has been heavily involved in altering the way lenders do business today.
Two individual pieces of legislation impacting our business need to be taken into account when determining closing dates for purchase transactions.
Home Valuation Code of Conduct
The Home Valuation Code of Conduct (HVCC) went into effect May 1, 2009. Intended to shield appraisers from undue influence from loan officers and lenders, this legislation installed a "firewall" between those individuals directly involved in the origination of the loan from the selection of and contact with appraisers.
HVCC also requires that borrowers receive a copy of the appraisal a minimum of three days in advance of closing. Part of the kicker here is that "received" is considered, in effect, three business days after the appraisal has been mailed to the borrower.As HVCC requires a firewall between the originator and the appraiser, the time to receive an appraisal has increased, in some cases by as much as two weeks or more. While this may not always be the case, it is important to take into consideration when considering closing dates. Today, conservative closing dates are mandatory to properly manage expectations of all parties.
Housing and Economic Recovery Act
The Housing and Economic Recovery Act (HERA) amends and impacts several aspects of obtaining a mortgage, the disclosures required for borrowers, and the timing of their delivery. This impacts the minimum time required to close, and should any changes be made to a loan application that could impact the Annual Percentage Rate (APR), this could impact the closing date.
Other than paying for a credit report, lenders may not accept any additional fees from a borrower until four business days after disclosures have been provided to or mailed to a borrower. This has the potential to delay several aspects of the application process.
Finally, upon making application, a borrower is provided a Truth in Lending (TIL) statement, detailing the total expected costs that could be incurred over the life of the loan. Should anything change in the loan application that could change the APR by more than .125%, a new TIL must be reissued to the borrower a minimum of 3 business days before closing. Items impacting the APR could include a borrower accepting a higher interest rate than initially qualified by floating their rate at application, a change to the loan amount, a change in product, a change in closing date, and any changes to fees.
What Now? While there is more we can discuss on the specifics of these legislative implications, I felt it important enough to let you know now that I would not recommend you write purchase contracts with short closing time frames.
I will be preparing additional information you can provide both your buyers and sellers to help explain the rationale behind not scheduling closing dates in advance of 30 days at a minimum and ideally not less than 45 days.
Thank you again for your business and if you have any questions, please pick up the phone and call me.
Two individual pieces of legislation impacting our business need to be taken into account when determining closing dates for purchase transactions.
Home Valuation Code of Conduct
The Home Valuation Code of Conduct (HVCC) went into effect May 1, 2009. Intended to shield appraisers from undue influence from loan officers and lenders, this legislation installed a "firewall" between those individuals directly involved in the origination of the loan from the selection of and contact with appraisers.
HVCC also requires that borrowers receive a copy of the appraisal a minimum of three days in advance of closing. Part of the kicker here is that "received" is considered, in effect, three business days after the appraisal has been mailed to the borrower.As HVCC requires a firewall between the originator and the appraiser, the time to receive an appraisal has increased, in some cases by as much as two weeks or more. While this may not always be the case, it is important to take into consideration when considering closing dates. Today, conservative closing dates are mandatory to properly manage expectations of all parties.
Housing and Economic Recovery Act
The Housing and Economic Recovery Act (HERA) amends and impacts several aspects of obtaining a mortgage, the disclosures required for borrowers, and the timing of their delivery. This impacts the minimum time required to close, and should any changes be made to a loan application that could impact the Annual Percentage Rate (APR), this could impact the closing date.
Other than paying for a credit report, lenders may not accept any additional fees from a borrower until four business days after disclosures have been provided to or mailed to a borrower. This has the potential to delay several aspects of the application process.
Finally, upon making application, a borrower is provided a Truth in Lending (TIL) statement, detailing the total expected costs that could be incurred over the life of the loan. Should anything change in the loan application that could change the APR by more than .125%, a new TIL must be reissued to the borrower a minimum of 3 business days before closing. Items impacting the APR could include a borrower accepting a higher interest rate than initially qualified by floating their rate at application, a change to the loan amount, a change in product, a change in closing date, and any changes to fees.
What Now? While there is more we can discuss on the specifics of these legislative implications, I felt it important enough to let you know now that I would not recommend you write purchase contracts with short closing time frames.
I will be preparing additional information you can provide both your buyers and sellers to help explain the rationale behind not scheduling closing dates in advance of 30 days at a minimum and ideally not less than 45 days.
Thank you again for your business and if you have any questions, please pick up the phone and call me.
Friday, July 10, 2009
5 Ways to Raise your Credit Score and Fast!!!
Purchasing a home can feel overwhelming for buyers no matter how many times they've been through the process. And today, your credit score is more important than ever when it comes to your ability to buy the home you really want. If you are looking to improve your credit score, now is the perfect time to get started. Here are some great strategies you can utilize right away to give your score a little boost. And check out the accompanying video with Linda Ferrari from Credit Resource Corporation for even more details.
Create Some Balance: While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Cancelling those cards may inadvertently undo all of your hard work.
Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.
Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don't report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you're in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.
Protect Your Interests: Your credit is calculated based solely on the information available to your creditors. If you have a HELOC, make sure it's listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it's important to monitor your credit every four to six months.
Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau's website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail. With just a little bit of effort, you could be well on your way to a higher credit score...and to owning the home of your dreams!
Create Some Balance: While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Cancelling those cards may inadvertently undo all of your hard work.
Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.
Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don't report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you're in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.
Protect Your Interests: Your credit is calculated based solely on the information available to your creditors. If you have a HELOC, make sure it's listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it's important to monitor your credit every four to six months.
Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau's website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail. With just a little bit of effort, you could be well on your way to a higher credit score...and to owning the home of your dreams!
Wednesday, July 8, 2009
Information for you about the government’s Housing and Economic Recovery Act (HERA)
New HERA regulations may affect your closing expectations.
We are bing told that a new government regulation is going into effect on July 30, 2009. This regulation requires all mortgage lenders and brokers to provide Truth in Lending (TIL) disclosures to borrowers according to a defined schedule. This schedule may alter your clients closing date expectation. We all looking to work together with real estate agents, attorney's and everyone associated with the closing to ensure the changes that will result from this regulation are understood by our borrowers.
Loans cannot close until at least seven days have passed from date of application.
Lenders and brokers must issue the initial TIL disclosure at least seven business days before the final loan documents are signed. Regardless of how the initial TIL is provided to the borrower, closing documents cannot be signed earlier than seven business days after the initial TIL has been issued.
Changes start the three-day clock again.
If there are any changes to the loan parameters that affect the Annual Percentage Rate (APR) on the TIL, the resulting APR must be compared to the latest TIL provided to the borrower. If there is an increase greater than .125% in the APR, the lender must provide a corrected TIL to the applicant. Fees considered to be finance charges that are used in the APR calculation include but are not limited to discount points, lender and broker fees, Life of Loan flood certification coverage, settlement agent or attorney fees. Borrowers must be provided three business days to review this amended TIL prior to loan closing.
Fees can’t be collected until disclosures are received.
The regulation prevents the collection of all fees from the borrower, except the expected cost of the credit report, until the initial TIL has been received by the borrower. This may delay appraisal orders or orders for other essential services; therefore it’s very important we work together to set your clients expectations for closing accordingly. If the initial TIL is delivered to the borrower face-to-face, fees for these services can be collected at that time.
This new regulation strives to ensure borrowers have a clear understanding of the financial obligation they are about to assume. We look forward to working with you to make sure borrowers have ample opportunity to review their loan documents, are well informed about the details of their real estate transaction before consummation, and remain confident in their home financing decision. Please give me a call or email if I can be of any help or answer any questions.
Keep in mind in this market, this could change tomorrow but I will keep you posted!
We are bing told that a new government regulation is going into effect on July 30, 2009. This regulation requires all mortgage lenders and brokers to provide Truth in Lending (TIL) disclosures to borrowers according to a defined schedule. This schedule may alter your clients closing date expectation. We all looking to work together with real estate agents, attorney's and everyone associated with the closing to ensure the changes that will result from this regulation are understood by our borrowers.
Loans cannot close until at least seven days have passed from date of application.
Lenders and brokers must issue the initial TIL disclosure at least seven business days before the final loan documents are signed. Regardless of how the initial TIL is provided to the borrower, closing documents cannot be signed earlier than seven business days after the initial TIL has been issued.
Changes start the three-day clock again.
If there are any changes to the loan parameters that affect the Annual Percentage Rate (APR) on the TIL, the resulting APR must be compared to the latest TIL provided to the borrower. If there is an increase greater than .125% in the APR, the lender must provide a corrected TIL to the applicant. Fees considered to be finance charges that are used in the APR calculation include but are not limited to discount points, lender and broker fees, Life of Loan flood certification coverage, settlement agent or attorney fees. Borrowers must be provided three business days to review this amended TIL prior to loan closing.
Fees can’t be collected until disclosures are received.
The regulation prevents the collection of all fees from the borrower, except the expected cost of the credit report, until the initial TIL has been received by the borrower. This may delay appraisal orders or orders for other essential services; therefore it’s very important we work together to set your clients expectations for closing accordingly. If the initial TIL is delivered to the borrower face-to-face, fees for these services can be collected at that time.
This new regulation strives to ensure borrowers have a clear understanding of the financial obligation they are about to assume. We look forward to working with you to make sure borrowers have ample opportunity to review their loan documents, are well informed about the details of their real estate transaction before consummation, and remain confident in their home financing decision. Please give me a call or email if I can be of any help or answer any questions.
Keep in mind in this market, this could change tomorrow but I will keep you posted!
Monday, July 6, 2009
$1,000,000 Challenge - First Time Home Buyer Seminar Coming Soon!!!
I am setting up a first time home buyer seminar. Not only am I looking for first time home buyers, but I am also looking for very specific go-getters to join me in this presentation. I have a guaranteed program that should will bring in tons if everyone goes by the proven plan other brokers have used across the country. Here is what I am looking to do.
I want multiple real estate agents that I will deem my "First Time Home Buyer Specialists". The reason I want multiple ones, is because each agent will be in charge of their specific area. The more agents, the more people they know and the more marketing to first time home buyers. For example, you could have the Denver, NC or Charlotte market all to yourself. I would have another agent other areas as well as a Spanish speaking agent that would get all the Spanish speaking clients.
We are still activiely searching for a great location so any suggestions would be appreciated. We are looking to offer this between exits 18 and 25 off I-77. To those realtors who wish to be a part of this, my company will provide you with the following:
1) Coordinate the entire event
2) Marketing Material
3) Website Link with full details of event and registration
4) Script for emails, website and voicemails
5) The presentation at the seminar
6) Distribution of the leads in your area or that you refer to the seminar
Your responsibility would be the following:
1) get two sponsors for the seminar 1 for the $500 & 1 for $250. Or two sponsors that wish to share the list of attendees for $375 each. Those sponsors need to be signed up no later than August 1st. (see below for what each tier of sponsor gets)
2) market in your area with the provided marketing material to potential first time home buyers
* add event to emails, personal website, voicemails etc…
* follow up with registrants that to verify they are coming – list will be provided
For this effort you will be:
1) In the marketing material
2) A slide devoted to you in the primary presentation
3) One specific town or zip code area without competition*
4) Sit at the front of the room during presentation and be introduced
5) A table set up for you to set up and schedule appointments on the day of the presentation
6) A full list of all people that signed up for your primary area complete with phone & email and addresses
*Anyone you specifically send (vs the masses) to the seminar – Registrants will be required to fill in a form that asks how they heard of the event (if it was your name, then you automatically get the referral, if not then it goes to the agent designated in their area) and the area of interest that they would like to live. They will be given 3 towns to add to the list. The first one they put down will be considered the primary location and will go to that agent. Those registrants will be given to the agents assigned to that territory. So be sure to have your referrals put your assigned town as the primary if not your name. This is only to be used for your personal referrals.. not in general marketing.
Sponsorship Tiers: (all money goes to paying for hotel rental, snacks, sodas, Major giveaways, hopefully we’ll have a flat screen TV, Lowes gift cards, etc!)
· $500 – Premium Sponsorship
o Complete list of all applicants that come to presentation
o On the marketing materials distributed by agents as well as in the 1st time home buyer packets given out at the seminar
o Put any goodies or coupons in the goodie bags
o Table at event
· $250 – Standard Sponsorship
o No list of applicants (only given to premium sponsors)
o On the marketing materials distributed by agents as well as in the 1st time homebuyer packets given out at the seminar
o Put any goodies or coupons in the goodie bags
o Table at event
Best sponsors for this I’m thinking would be:
· Movers
· Alarm companies
· Home inspectors
· Carpet cleaners
· Attorney’s
· Title companies
· Cleaning ladies
· Anything you can think a new home buyer would use!!!
Event:
Waiting to hear back from hotel if available
Estimated Date: August 22nd,2009
Time to be at location: 8:30-12:30 (after seminar, we want you to stick around and set up appointments for prospective buyers in your area!!
Registration starts at 9am (gives people time to browse tables and talk with agents, seminar at 10 – 11,
The more we market it, the better it will be! We are calling it the $1,000,000 Challenge. If we can get 125 first time home buyers to buy before Dec 1st 2009, that will total 1,000,000 in tax credits back in these homebuyers pockets!!!
Please check out the link at www.fthbseminar.com to register or contact us for sponsorship info!! We are filling up fast!
I want multiple real estate agents that I will deem my "First Time Home Buyer Specialists". The reason I want multiple ones, is because each agent will be in charge of their specific area. The more agents, the more people they know and the more marketing to first time home buyers. For example, you could have the Denver, NC or Charlotte market all to yourself. I would have another agent other areas as well as a Spanish speaking agent that would get all the Spanish speaking clients.
We are still activiely searching for a great location so any suggestions would be appreciated. We are looking to offer this between exits 18 and 25 off I-77. To those realtors who wish to be a part of this, my company will provide you with the following:
1) Coordinate the entire event
2) Marketing Material
3) Website Link with full details of event and registration
4) Script for emails, website and voicemails
5) The presentation at the seminar
6) Distribution of the leads in your area or that you refer to the seminar
Your responsibility would be the following:
1) get two sponsors for the seminar 1 for the $500 & 1 for $250. Or two sponsors that wish to share the list of attendees for $375 each. Those sponsors need to be signed up no later than August 1st. (see below for what each tier of sponsor gets)
2) market in your area with the provided marketing material to potential first time home buyers
* add event to emails, personal website, voicemails etc…
* follow up with registrants that to verify they are coming – list will be provided
For this effort you will be:
1) In the marketing material
2) A slide devoted to you in the primary presentation
3) One specific town or zip code area without competition*
4) Sit at the front of the room during presentation and be introduced
5) A table set up for you to set up and schedule appointments on the day of the presentation
6) A full list of all people that signed up for your primary area complete with phone & email and addresses
*Anyone you specifically send (vs the masses) to the seminar – Registrants will be required to fill in a form that asks how they heard of the event (if it was your name, then you automatically get the referral, if not then it goes to the agent designated in their area) and the area of interest that they would like to live. They will be given 3 towns to add to the list. The first one they put down will be considered the primary location and will go to that agent. Those registrants will be given to the agents assigned to that territory. So be sure to have your referrals put your assigned town as the primary if not your name. This is only to be used for your personal referrals.. not in general marketing.
Sponsorship Tiers: (all money goes to paying for hotel rental, snacks, sodas, Major giveaways, hopefully we’ll have a flat screen TV, Lowes gift cards, etc!)
· $500 – Premium Sponsorship
o Complete list of all applicants that come to presentation
o On the marketing materials distributed by agents as well as in the 1st time home buyer packets given out at the seminar
o Put any goodies or coupons in the goodie bags
o Table at event
· $250 – Standard Sponsorship
o No list of applicants (only given to premium sponsors)
o On the marketing materials distributed by agents as well as in the 1st time homebuyer packets given out at the seminar
o Put any goodies or coupons in the goodie bags
o Table at event
Best sponsors for this I’m thinking would be:
· Movers
· Alarm companies
· Home inspectors
· Carpet cleaners
· Attorney’s
· Title companies
· Cleaning ladies
· Anything you can think a new home buyer would use!!!
Event:
Waiting to hear back from hotel if available
Estimated Date: August 22nd,2009
Time to be at location: 8:30-12:30 (after seminar, we want you to stick around and set up appointments for prospective buyers in your area!!
Registration starts at 9am (gives people time to browse tables and talk with agents, seminar at 10 – 11,
The more we market it, the better it will be! We are calling it the $1,000,000 Challenge. If we can get 125 first time home buyers to buy before Dec 1st 2009, that will total 1,000,000 in tax credits back in these homebuyers pockets!!!
Please check out the link at www.fthbseminar.com to register or contact us for sponsorship info!! We are filling up fast!
Thursday, July 2, 2009
"Summerize" Your Home with These Projects
It may seem hard to believe, but we've already waved goodbye to the beginning of summer. Before the hottest days of late summer descend upon us, consider tackling these summer projects:
Air conditioning-It's important to have your air conditioner in perfect working order. Taking care of any issues in the midst of a heat wave can potentially result in an increase in price, as well as an increase in the time it takes for a technician to visit your home. You should also replace any filters now. Simply remove the old one and take it to your local home improvement center. Sales representatives should have no problem finding its replacement.
Clean out your garage-Organizing a garage can be an excruciating experience during the hottest time of summer, so if that's something you need to do, check the upcoming weather reports and plan accordingly. Once you clean out your garage, either donate any unwanted items or sell them.
Paint-Summer is an ideal time to paint the interior of your home since the weather best lends itself to keeping your windows open, allowing the fresh air in and the paint fumes out. If you decide to paint the inside of your home, think about lightening the existing color as opposed to darkening it. Lighter colors are not only inviting, they create the illusion of a bigger, more open space.
Buy fans-Installing ceiling fans and using portable fans are great methods for cutting the heat inside your home. They are also far less expensive to use than an air conditioner. Using fans of any kind also enables you to keep windows open at night, allowing fresh air to circulate throughout the house.
Install dimmer switches-Dimmer switches not only add ambience, they also cut down on energy and the unwanted heat given off by brighter bulbs. Another tip is to use low-wattage light bulbs whenever possible.
Good luck and happy "summerizing!"
Air conditioning-It's important to have your air conditioner in perfect working order. Taking care of any issues in the midst of a heat wave can potentially result in an increase in price, as well as an increase in the time it takes for a technician to visit your home. You should also replace any filters now. Simply remove the old one and take it to your local home improvement center. Sales representatives should have no problem finding its replacement.
Clean out your garage-Organizing a garage can be an excruciating experience during the hottest time of summer, so if that's something you need to do, check the upcoming weather reports and plan accordingly. Once you clean out your garage, either donate any unwanted items or sell them.
Paint-Summer is an ideal time to paint the interior of your home since the weather best lends itself to keeping your windows open, allowing the fresh air in and the paint fumes out. If you decide to paint the inside of your home, think about lightening the existing color as opposed to darkening it. Lighter colors are not only inviting, they create the illusion of a bigger, more open space.
Buy fans-Installing ceiling fans and using portable fans are great methods for cutting the heat inside your home. They are also far less expensive to use than an air conditioner. Using fans of any kind also enables you to keep windows open at night, allowing fresh air to circulate throughout the house.
Install dimmer switches-Dimmer switches not only add ambience, they also cut down on energy and the unwanted heat given off by brighter bulbs. Another tip is to use low-wattage light bulbs whenever possible.
Good luck and happy "summerizing!"
Tuesday, June 30, 2009
Job Recruiter or Identity Thief??
With 2 million layoffs recently, the employment websites are busier than ever. And it's not just job seekers who are making these sites so popular. Consumer-protection and law-enforcement groups and better-business bureaus are reporting that a whole new breed of scammers and "phishers" are also logging on to get your personal information to steal your identity.
If you, or someone you know, are using the Internet to get a new job, protect yourself. Never supply Social Security numbers or bank account numbers over the phone or on your resume. Also, be wary of "work-at-home" or business opportunities which cost money or fees upfront for supplies, background checks, and other phony charges. The Wall Street Journal reported recently that many of these scam opportunities involve "medical billing, rebate processing, and mystery shopping." The Federal Trade Commission says some of these "jobs" are even illegal, and you could be held responsible. Finally, watch out for phony executive-search firms and recruiters. Capitalizing on desperate job seekers, these scammers have reportedly charged thousands of dollars for positions that never existed.
Finding a job in today's economy can be hard, but be persistent, patient, and protect your identity. Don't let the urgency of your situation lead you into a scammer's trap.
If you, or someone you know, are using the Internet to get a new job, protect yourself. Never supply Social Security numbers or bank account numbers over the phone or on your resume. Also, be wary of "work-at-home" or business opportunities which cost money or fees upfront for supplies, background checks, and other phony charges. The Wall Street Journal reported recently that many of these scam opportunities involve "medical billing, rebate processing, and mystery shopping." The Federal Trade Commission says some of these "jobs" are even illegal, and you could be held responsible. Finally, watch out for phony executive-search firms and recruiters. Capitalizing on desperate job seekers, these scammers have reportedly charged thousands of dollars for positions that never existed.
Finding a job in today's economy can be hard, but be persistent, patient, and protect your identity. Don't let the urgency of your situation lead you into a scammer's trap.
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